CADJPY

4hr Cadjpy

Originally i thought with a weakening Jap economy(May Be)  I thought the CAD would be able to break out on such pass strong Performance of late . However my view has changed because the Cad was unable to produces any good data today with 

Manufacturing coming at 

Manufacturing Sales (MoM)

Actual -0.90% Forecast 0.60% Previous 0.60%

A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

and

Foreign Securities Purchases

Actual -4.19B Forecast 6.27B Previous 8.17B

A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

Capacity Utilization Rate Actual 80.5% Forecast 81.6% Previous 80.0% he Capacity Utilization Rate is the percentage of production capacity being utilized in Canada (available resources includes factories, mines and utilities). Capacity Utilization reflects overall growth and demand in the economy. It can also act as a leading indicator of consumer price inflation.

unemployement

this was on the 9/03/2012  http://watch.bnn.ca/#clip634753


Followed by 16/03/2012   http://watch.bnn.ca/#clip639347
on the up side on

New Motor Vehicle Sales (MoM)

Actual 15.4% Forecast 2.1% Previous -3.0%

I guess some people are living Good Buying New cars and all that, which probably due to the stats below


On the 2nd  march 2012
Canadian real GDP rose 0.4% in the fourth quarter after advancing .0% in the third  quarter. Consumer spending and exports contributed the most to fourth quarter GDP Growth

Consumer price index rose on the 20th January 2012 to 2.3% in 12 months to December , following a 2.9 increase in November 2011.

Technically you can see for your self that we could be topping out in an overbrought   to neutral situation. However, for now the Bulls should Waite for a pull back and bears might wanna scalp down.
Me personally i'm short only because with the current news today the cad didn't' qualify it to break out and continue on its bull run. Low volume falling stochastic and with a break of my trigger line and possible end of a 5th wave up i think  we should be headed down. in the short term however it is Still early so we have to Waite and see.